Introducing Spruce Root Inc.

Spruce Root was formerly known as Haa Aaní Economic Development and the Haa Aaní CDFI program. It was founded in 2012, with $500,000 of seed money from Sealaska. Today the fund has grown to $3.5 million, which is possible thanks to grant, benefactor and partner funds, including Sealaska, the Nature Conservancy and others.

Introducing Spruce Root Inc.

Formerly Haa Aaní Community Development Fund Inc

Sealaska’s commitment to Southeast Alaska comes through multiple endeavors. Our commitment to the economics of the region, in part, is through our financial contribution to Spruce Root, a 501(c)(3) nonprofit Community Development Financial Institution (CDFI). Spruce Root was formerly known as Haa Aaní Economic Development and the Haa Aaní CDFI program. It was founded in 2012, with $500,000 of seed money from Sealaska. Today the fund has grown to $3.5 million, which is possible thanks to grant, benefactor and partner funds, including Sealaska, the Nature Conservancy and others.

Since the inception of the CDFI, the loan program has deployed direct and indirect loans totaling $691,000 to eight businesses located in four communities supporting 61 full-time and seven part-time jobs. For 2017, Spruce Root has a loan deployment goal of $1 million, a significant growth from the last four years. The goal of Spruce Root, like the former Haa Aaní Economic Development, is to build community resiliency. Spruce Root will continue with its foundational programs Path to Prosperity and the CDFI Loan Program. Visit www.spruceroot.org to learn more.

News Type: